FY2024 EPS Estimates for Pfizer Boosted by Leerink Partnrs

Pfizer Inc. (NYSE:PFE) – Leerink Partnrs increased their FY2024 earnings per share estimates for Pfizer in a research note issued on Tuesday, October 29th. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will post earnings of $3.10 per share for the year, up from their prior estimate of $2.88. The consensus estimate for Pfizer’s current full-year earnings is $2.67 per share. Leerink Partnrs also issued estimates for Pfizer’s FY2025 earnings at $3.12 EPS, FY2026 earnings at $3.24 EPS and FY2028 earnings at $2.82 EPS.

A number of other analysts have also recently issued reports on the company. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company raised their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price of $33.58.

Pfizer Trading Down 0.8 %

Shares of NYSE:PFE opened at $28.29 on Thursday. The firm has a fifty day moving average of $29.05 and a two-hundred day moving average of $28.56. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer has a 12-month low of $25.20 and a 12-month high of $31.54. The firm has a market capitalization of $160.31 billion, a P/E ratio of 38.23, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.17) EPS.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently modified their holdings of the business. Marshall Wace LLP increased its holdings in shares of Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after purchasing an additional 8,378,173 shares during the period. Swedbank AB bought a new position in Pfizer during the first quarter valued at about $172,902,000. International Assets Investment Management LLC bought a new stake in shares of Pfizer in the 3rd quarter worth approximately $146,481,000. Pzena Investment Management LLC grew its holdings in shares of Pfizer by 181.6% during the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after purchasing an additional 4,947,000 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Pfizer by 24,961.6% during the second quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after purchasing an additional 2,487,919 shares during the period. 68.36% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.94%. Pfizer’s payout ratio is presently 227.03%.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.